EquityPandit’s Outlook for ITC for the week (September 28, 2015 – October 02, 2015):

ITC:

ITC closed the week on positive note gaining more than 1.4%.

As we have mentioned last week that support for the stock lies in the zone of 305 to 310. If the stock breaks below the levels of 305 on closing basis the stock can drift to the levels of sub 300. The stock manages to hit a low of 307 and bounce back to close the week around the levels of 322.55.

Support for the stock lies in the zone of 310 to 315 where 100 Daily SMA and 200 Weekly SMA are positioned. If the stock breaks below the levels of 305 on closing basis then the stock can drift to the levels of sub 300.

The stock is trading around the strong resistance zone of 320 to 325. If the stock manages to close above the levels of 325 the stock can move to the levels of 335 to 340 where 200 and 500 Daily SMA are lying.

Broad range for the stock in coming week is seen between 305 to 310 on downside and 330 to 335 on upside.